Unemployment up 2.96% in July

Greek unemployment rate OAED

Registered unemployment totaled 948,930 in July, up 2.96% from June (921,647) and down 5.32% compared with June 2021 (1,002,261), Public Employment Service (DYPA) said in a report on Wednesday.

More specifically, the number of registered unemployed seeking job was 942,393 in July, of which 518,759 (55.05%) were long-term unemployed. Men accounted for 308,692 (32.76%) of registered unemployment and women for 633,701 (67.24%).

The number of registered unemployed not seeking job was 6,537 in July, of which 2,402 were men and 4,135 women. The number of people receiving unemployment benefits amounted to 143,367 in July.

Meanwhile, Greece is returning to European normalcy and will no longer remain an exception in the eurozone, Greek Finance Minister Christos Staikouras said on Saturday.

Commenting on the formal end of Greece's enhanced surveillance program by its creditors, Staikouras said, "As of today, Greece has officially ended its enhanced surveillance status, one it had come under - the only country to have done so in the EU - in 2018. Twelve years later, our country returns to European normalcy and stops being the exception in the eurozone. A key national goal has been met!"

This development is a result and recognition of massive sacrifices by the Greek people, significant effort by Greek institutions, and an effective economic policy by the government of New Democracy, he stressed. Its benefits include strengthening the country's position in international markets, enhancing the country's growth dynamic, attracting investments, and adding more flexibility to applying economic policy within EU rules.

"Greece therefore is closer to achieving its last great goal, to gain investment-grade following the Greek economy's 11 credit upgrades in the last three years," the Finance Minister said. Despite the challenges ahead, he underlined, "we must carry on in a spirit of creativity, prudently and with hard work, to establish Greece as an all-around stronger country and make its economy more dynamic, productive, extroverted, and socially fair."

READ MORE: INFLATION: 8.9% in the EuroZone for July is a new record.